Nahrgang & Associates, P.C
When facing overwhelming debt and financial strain, declaring bankruptcy can provide relief. In Collegeville, PA, individuals and business owners confronting such challenges have recourse under the U.S. Bankruptcy Code, with Chapter 13 offering a viable solution.
When contemplating bankruptcy in Collegeville, PA, seeking guidance from an experienced Chapter 13 bankruptcy attorney is invaluable. They can meticulously assess your circumstances, elucidate available options, and guide you towards the most suitable path to financial stability.
There are 3 main reasons that individuals with consumer debt and sole proprietors consider Chapter 13 bankruptcy in Collegeville and Montgomery County, PA:
Chapter 13 bankruptcy provides a positive path forward for individuals and sole proprietors with stable income. It offers the opportunity to repay debts over three to five years, including mortgage and car loan defaults, offering a fresh financial start. If the process seems daunting, fear not; our experienced Chapter 13 bankruptcy lawyer at Nahrgang & Associates in Collegeville and Montgomery County, PA, is here to simplify it for you. We're committed to empowering you with the knowledge and resources necessary to navigate this journey confidently.
There are 3 main reasons that individuals with consumer debt and sole proprietors consider Chapter 13 bankruptcy:
1) curing a default in a mortgage or car loan;
2) repaying a tax deb;
3) repaying unsecured debt in whole or in part when a Chapter 7 bankruptcy is not possible or advisable if there is too much disposable income or exposed assets.
Embarking on Chapter 13 bankruptcy signifies a positive step forward for individuals and sole proprietors with stable income. This process empowers you to gradually repay unsecured debts and rectify mortgage and car loan defaults over a manageable timeframe of three to five years.
Think of Chapter 13 bankruptcy protection as akin to securing a consolidation loan, simplifying your financial obligations into a single manageable payment. By enlisting the support of a seasoned Chapter 13 bankruptcy lawyer, you significantly enhance your chances of achieving a favorable outcome. These adept attorneys possess intricate knowledge of eligible debts and can adeptly safeguard your assets from potential seizure.
Under Chapter 13, you can address a myriad of unsecured debts, encompassing personal loans, credit card balances, medical bills, and tax obligations, providing a holistic solution to your financial woes. Moreover, you can proactively address mortgage arrears, sidestepping sheriff sales and tax liens. The automatic stay provision further shields you from creditor harassment, offering respite from incessant phone calls, letters, and legal actions. For a successful bankruptcy journey, entrust the expertise of a Chapter 13 bankruptcy lawyer to navigate this intricate process with confidence.
Embarking on any Chapter of the U.S. bankruptcy code marks a proactive step towards financial renewal. Whether you're considering Chapter 13 bankruptcy near me or elsewhere, the journey begins with essential initial steps, regardless of the type of bankruptcy. Engaging with knowledgeable Chapter 13 bankruptcy attorneys is pivotal in navigating these initial phases adeptly, ensuring compliance and setting the stage for a positive outcome. Collaborating with a skilled Chapter 13 bankruptcy lawyer significantly boosts your chances of success and empowers you to safeguard valuable assets. Here's a glimpse into how your trusted Chapter 13 bankruptcy lawyer initiates the process:
Chapter 13 differs from Chapter 7 in that a Chapter 13 requires the filing of a Chapter 13 Plan. This serves as your proposal to resolve your debt as required by Chapter 13. Payments must be made to the trustee within 30 days of the Petition filing, which is ultimately subject to approval by the court.
The next step is a Meeting of Creditors, which is intended to be a chance for your creditors to come and ask you questions; of course, most top Chapter 13 bankruptcy attorneys know that they rarely appear at these meetings. Rather, the meeting is conducted by the trustee, known as a Standing Chapter 13 Trustee in Chapter 13 cases. As in a Chapter 7, the trustee reviews the petition with you and your counsel, all while the proceedings are tape recorded and under oath. The Chapter 13 trustee will then suggest any changes that may be required to the forms, schedules, and Chapter 13 Plan.
The final step is a Confirmation Hearing which doesn’t necessarily require attendance by you and counsel. Rather, if the trustee is satisfied that your Plan is feasible and comports with Chapter 13, the trustee will simply recommend confirmation and approval of the Plan. It is extremely likely that the court will then confirm the Plan if it has been recommended by the trustee. As long as you are able to comply with the plan throughout the entire length of the case (typically five years) you will be entitled to a discharge of any debt remaining unpaid and any defaults will be deemed cured.
After successfully navigating these crucial steps, you're poised to embark on a journey towards debt relief and a new beginning. Empower yourself with the guidance of a skilled attorney specializing in Chapter 13 bankruptcy. Take proactive steps today for a brighter financial future. Reach out to Nahrgang & Associates in Collegeville and Montgomery County, PA, to kickstart your bankruptcy process with confidence.
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Matt was extremely helpful in helping my wife and I get through a very rough time financially. He was honest and took the time to answer texts or phone calls to explain and walk us through every step of the way. I cannot be more thankful for how much Matt did for us. And I would recommend him to anybody that needs bankruptcy advice.
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I highly recommend attorney Matthew Nahrgang for anyone seeking legal help. Matthew provided his service on my 2 different cases over a period of 3 years. He is a seasoned professional who is honest, ethical, very knowledgeable, attentive to detail and prompt in his response. He is a man of his word.
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The Collegeville, Pennsylvania based law firm of Nahrgang & Associates, P.C. represents clients in the counties of Montgomery, Bucks, Delaware, Chester, Berks, Philadelphia, Lancaster, Northampton and Lehigh including the communities of Collegeville, Jenkintown, Doylestown, West Chester, Reading, Media, Allentown, Norristown, Phoenixville, Quakertown, Pottstown, Lansdale, Royersford, Plymouth Meeting, Exton, Conshohocken and King of Prussia, PA.
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Address: 35 Evansburg Road, Ste. 400 Collegeville, PA 19426
Phone: 610-489-3041
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